Billionaire US investor Jim Rogers is advising investors to desert the greenback and put their money into commodities. The influential former partner of financier George Soros says the US dollar is a flawed currency that has no future.

I’ve never been fully committed to the notion that we’re going to have a “double dip” — that the economy will slide back into recession. But it has been clear for a while that it’s a serious possibility, for two reasons.

Robert Zoellick, the president of the World Bank, said Beijing had shown “strong interest” in proposals to set up manufacturing bases to help African countries achieve high growth paths similar to Asian ones.